Select a category

Stellantis (STLA) is partnering with French government-backed research organization CEA to develop next-generation battery cells for electric vehicles, the company announced Wednesday.

The five-year joint research program will work to develop battery cells with longer lifespans, better performance, and a lower carbon footprint. 

“We know that battery technology is poised for change. While we don’t know exactly how it will change, we are committed to be at the forefront of this transformation,” Stellantis Chief Engineering and Technology Officer Ned Curic said in a statement.

The Amsterdam-based owner of auto brands including Chrysler, Jeep, Fiat, and Maserati will receive support from CEA’s energy division, which works to design innovations in decarbonization technology. 

“This exciting project makes the best use of more than 25 years of expertise in the field of Li-ion batteries at CEA to the benefit of one of the major automotive actors in the competitive race for electrical mobility,” Philippe Stohr, head of CEA's Energy division, said.

Stellantis is no stranger to EV joint ventures (JV). In October, the automaker established a JV with global nuclear fuel cycle company Orano for a battery recycling plant set to begin production in 2026.

Shares of Stellantis closed up almost 1% higher on a holiday-shortened trading day Wednesday.

Read more on Investopedia

instablog9ja

4m Just In: Labour predicted to win UK election in landslide with 410 seats, according to exit poll

Keir Starmer will be Britain’s next prime minister with his Labour Party set to win a massive majority in a parliamentary election, an exit poll on Thursday indicated, while Rishi Sunak’s Conservatives are forecast to suffer historic losses, ending 14 years of Conservative rule.

Sir Keir Starmer’s party looks set to secure the win with an estimated 410 seats – equating to an overall majority of 170 – according to the poll by Ipsos UK for Sky News/BBC/ITV News.

This is compared to the Conservatives, who are projected to win just 131 seats, compared to 365 in the 2019 vote.

The poll suggests that while Labour have likely secured their anticipated landslide victory, more than doubling their result of 203 from five years ago, they may have fallen just short of the 179-seat majority Tony Blair won in 1997.

However, they may achieve the landslide on a smaller share of the vote than what Jeremy Corbyn secured in 2017. Meanwhile, both the Conservative share of the vote and their seat tally could be the lowest in the party’s history, falling below the 156 won in 1906. The Liberal Democrats are also projected to win more than five times the number of seats that they secured at the last election, going from 11 to 61 in the exit poll.

Continue reading on Instablog

Amid public outr@ge and nationwide protests, Kenya’s President William Ruto has instructed his ministers and lawmakers to “live within their means,” ordering the withdrawal of their recent pay rise.

President Ruto gave this directive through the spokesperson for the Kenya State House, Hussein Mohammed, on Wednesday, July 3, 2024, amidst criticisms following reports of the pay rise for ministers and lawmakers.

“The President has emphasised that now more than ever, the Executive and all arms of government must live within their means,” Mr Mohammed said, adding that Mr Ruto has instructed a review of salaries for his ministers and lawmakers.

It was reported on Tuesday that Mr Ruto’s ministers and Kenyan members of parliament received a pay rise effective July 1.

According to local media, the pay rise for Mr Ruto’s cabinet members and lawmakers coincided with nationwide protests that have resulted in over 39 d£aths and hundreds of inj¥ries.

Previously, each cabinet secretary who earned Ksh. 957,000 will now earn Ksh. 990,000 plus allowances, and each of the 51 principal secretaries who earned Ksh. 792,519 will now earn Ksh. 819,844.

The salaries of the speakers of the National Assembly and Senate increased from Ksh. 1,185,327 to Ksh. 1,208,362, while salaries of members of parliament increased from Ksh. 725,502 to Ksh. 739,600.

Although deliberations on salary increments for Mr Ruto’s cabinet members and lawmakers occurred months ago, their implementation coincided with d£adly protests against a tax hike.

However, Mr Ruto later announced the suspension of the pay rise for his ministers and lawmakers for the time being.

Continue reading on Instablog

Widespread jubilation as Nigeria has been selected to host the headquarters of the African Energy Bank.

I am delighted to share that Nigeria has been selected to host the headquarters of the African Energy Bank! This prestigious honor is a testament to our country’s leadership and commitment in the energy sector.

As the Minister for Petroleum Resources[Oill, I am incredibly proud of this achievement. The African Energy Bank will be a cornerstone for financing and advancing energy projects across Africa, promoting innovation, sustainability, and economic growth. This is a remarkable victory for Nigeria and the entire African continent. It symbolizes our collective efforts to harness and develop our rich energy resources for a brighter, more sustainable future.

Thank you to everyone who made this possible. Together, we are shaping the future of energy in Africa, starting right here in Nigeria!

Continue reading on Instablog

Actress Iyabo Ojo has told Nigerians that she’ll take your advice and ignore the negativity. No amount of lies even with a trillion tr%lls can silence her.

She said to Obim, her wonderful children, families, friends, loved ones, colleagues, fans, well-wishers, and her management team, she has heard your advice and messages, which have boosted my confidence and resilience. She is committed to speaking truth despite adversity. Thank you for your love and support, both private and public. She’ll take your advice and ignore the negativity, but will never stop speaking up when necessary. For now, it’s all about peace and love.

Click to watch

Continue reading on Instablog

Retail traders haven’t been upping their investments ahead of the coming earnings season the way they have in past quarters.

According to Vanda Research, which tracks investment flows from retail buyers and sellers, individual-investor inflows are more muted with another round of earnings reports around the corner. 

“Although investors typically become more active before earnings reports, trying their luck with their favorite stocks, we are not seeing signs of this trend,” Vanda said in a report Wednesday. Concerns about an economic slowdown "are deterring individual investors from adding exposure to more traditional industries," the report said.

The firm pointed to Nvidia (NVDA), whose shares are up more than 150% year-to-date but have leveled off over the last month. The chipmaker briefly passed Microsoft (MSFT) and Apple (AAPL) in market capitalization to become the world's most valuable company, “suggesting the stock might be in a bubble zone,” Vanda wrote.

“The peak of retail bullishness for NVDA seems to be behind us,” the firm said.

The financial sector, whose leading companies will begin releasing earnings reports starting next week, has also lately drawn lower inflows. That’s indicative of investors being less interested in “traditional industries,” Vanda wrote, in favor of emerging sectors like artificial intelligence (AI). 

Nike (NKE) saw retail investors scooping up stock after the athletic apparel company’s share price tumbled 20% last Friday on disappointing fourth-quarter sales and guidance for fiscal 2025.

Traders betting on a rebound “highlights the potential re-emergence of the retail investors’ contrarian behaviour that has lacked in recent months,” Vanda said. “Looking at the cohort’s propensity to dip-buy, we find that there has been a pickup as of late."

Retail investors have been “heavily overweight” in Tesla (TSLA) shares, but traders could finally engage in some profit-taking with the share price up nearly 50% over the past three months. 

Tesla's shares fell to as low as $138.80 in April but climbed back to $246.39 at Wednesday's close, leaving the stock nearly flat for the year so far.

“If the stock continues to gain positive momentum, we expect retail investors to rotate back into TSLA and support the stock" until at least the $250 level, Vanda wrote.

Read more on Investopedia